Reforms seen to boost fund management industry - BusinessWorld Online

Pilipinas on Thursday said it is pursuing several reforms,framework for unit investment trust funds to support the fund and asset management sector.

“One way of doing so is through our Trust Business Model initiative, wherein we pursue several reforms that enable fund managers to enhance their operations and realize their goals,” Mr. Medalla said. The BSP, in its Manual of Regulations for Banks, defines UITFs as an open-ended trust funds that could be in peso or other acceptable currency. These are operated and administered by a trust entity. These could include money market funds, bond funds, balanced funds, and equity funds, among others.

The first phase of the initiative involved the reduction in the minimum required amount for investment management accounts, as well as the expansion of financial instruments suitable for commingled funds.The latest amendments to UITF regulations were made via a circular last September 2022, wherein the central bank required trust entities to secure its approval or notify it before creating selected kinds of UITFs.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

BSP invites lenders, providers to join open finance standards consultation - BusinessWorld OnlineTHE CENTRAL BANK has invited interested financial institutions to participate in the standards consultation to discuss operational and technical arrangements for the Philippine Open Finance Pilot. The Bangko Sentral ng Pilipinas (BSP) said in a statement on Wednesday that it is inviting BSP-supervised financial institutions (BSFIs) and other third-party providers to discuss the operational standards […]
مصدر: bworldph - 🏆 9. / 68 اقرأ أكثر »